Emerging markets ETF (EEM) has created a rather sizeable rising wedge over the past few months, with the bottom of the wedge attempting to break support.  Speaking of weakness and breaking support, India (EPI) is reflecting relative weakness, losing almost 10% in the last 90 days (not including todays action).

Last week I shared a chart comparing the 30-year bond with the 500 index, suggesting it was a time to “overweight towards bonds and underweight towards stocks.”  (see post here)  This type of action suggests that if you are long, finding relative strength is extremely important because relative weakness, as seen in the above lower right chart, can be very painful to a portfolio!

I took “pocket change gains” (see this post) in a broad array of International holdings and have not found the patterns to be of interest to be long since mid October.

How The Recent Decline In Stocks Looks "Eerily" Like Major Bear Markets Of The Past